Saturday, June 13, 2015

“It has been one of the longest-running bills in our history,” Aquino said, noting that the first competition policy was first filed in the 8th Congress.

After World War II, Japan passed its Original Antimonopoly Law in 1947, while the United Kingdom passed its Monopolies and Restrictive Practices Act in 1948.

Other Asean countries have also passed their respective competition laws, starting with Indonesia and Thailand in 1999, Singapore in 2004, Vietnam in 2005 and Malaysia in 2012. “This is primarily a huge victory for millions of consumers, who, in the end, will be the ultimate beneficiaries of this measure,” the senator said.